Pfizer's COVID-19 Vaccine Candidate Shows Promising Results... New York Stock Market Rises

Positive Results in Clinical Trial with 24 Participants
Additional Trial Planned for 30,000 Participants
Production Capacity of 100 Million Doses by Year-End

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Pfizer, an American pharmaceutical company, announced on the 1st (local time) that it has achieved positive results in clinical trials of the COVID-19 vaccine candidate 'BNT162b1,' developed in collaboration with German company BioNTech. Supported by this, the New York Stock Exchange, which showed weakness in pre-market trading, is showing strength immediately after opening.

In a press release, Pfizer stated that the experimental subjects in the vaccine candidate trial involving 24 people developed more antibodies than those who had been infected with COVID-19. Accordingly, Pfizer plans to begin additional trials involving 30,000 people in the United States and Europe.

Pfizer explained that if approved by authorities, it plans to manufacture up to 100 million doses of the vaccine by the end of this year and produce an additional 1.2 billion doses by the end of next year.

Although the New York Stock Exchange showed weakness in pre-market trading today, expectations of positive results from Pfizer's COVID-19 vaccine candidate are driving strength. As of 10:05 a.m., the Dow Jones Industrial Average is up 0.42%, the S&P 500 is up 0.46%, and the Nasdaq is up 0.28%.

Pfizer's stock price is also rising by over 4%.